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Saturday, August 22, 2015

Honda Tops YouGov BrandIndex for Millenials

When the higher-ups at Honda spend their millions of dollars on advertising, they do so with the hopes that those ads will, in fact, reach the people they hope to reach. It’s a challenging game to play, but good advertising combined with a good product very often leads to plenty of word-of-mouth buzz that plays into the overall success of a brand. Honda is doing particularly well in all of these areas, according to the YouGov BrandIndex, which recently determined that Honda was among the top auto brands in the minds of Millennials.

That’s an especially important consumer group, because those 18-to-33-year-old customers are often where businesses spend the bulk of their ad money, and at least for Honda, they are having the intended effect.

The YouGov BrandIndex measures three critical perception metrics: Purchase Consideration, Impression and Ad Awareness, and Honda was a top finisher in every single of those. In terms of consideration, Honda actually was the top brand, with 34% of Millennials admitting to considering a Honda vehicle the next time they were shopping for a new car. The automaker’s Impression score, which measures how positively young consumers feel about certain brands, was 41, also the highest among all brands.

As far as awareness is concerned, Honda finished fourth among all brands with 20%, but that’s still a strong finish and when added with all the other top scores in the BrandIndex placing them squarely among the top two brands in the auto industry in terms of perception metrics among Millenials.

Of course, Honda dealers would love to have that same level of perception with all consumers, but that doesn’t mean we here at Pacific Honda can’t enjoy such positive results from an index looking at one admittedly important subgroup of consumers.

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*Based on information provided by American Honda Sales Records from 1993-2011.